Brazil's financial market raises growth forecast to 6.25%

15:01, May 11, 2010      

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Brazil's financial market raised its forecast for Gross Domestic Product (GDP) growth in 2010 from 6.06 to 6.26 percent, the Central Bank and other major financial institutions said on Monday.

If the projection is confirmed, it would be the largest annual expansion in the Brazilian economy since 1986, when 7.49 percent growth was registered.

The estimate for industrial output growth increased from 9.54 to 10.3 percent. The forecast for the balance between public debt and GDP stood at 41 percent and for foreign direct investment at 38 billion dollars, while for trade surplus it rose from 12.24 to 13 billion dollars.

The market projects 5.42 percent inflation in 2010, within the official target of 4.5 percent with two percentage points of tolerance.

Selic interest rate, currently at 9.5 percent, should close the year at 11.25 percent, the report says.

For the exchange rate, expectations remained at 1.80 reais (Brazilian currency) per dollar by December this year.



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